Economic growth bonus Sample Clauses

Economic growth bonus. With the increase on 1 November 2022, the economic growth bonus according to the agreement between the parties, which was due for payment on 1 May 2023, will be brought forward and fully honoured. There is furthermore agreement that given this increase and the early payment, there will be no further review of economic growth bonus prescribed in the 2019-2022 agreement.
Sample 1
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Economic growth bonus. In 2020-2023, a wage increase will be implemented on the basis of the per capita increase in gross domestic product. Calculation of the wage increase is based on provisional statistics from Statistics Iceland on the per capita gross domestic product index, which are published every March for the previous year. The wage increase is added to both the monthly wage rate stated in the collective agreement and to fixed monthly salaries for daytime work. The below table shows the wage increase amount and its basis. Gross domestic product per capita, yearly increase Increase in monthly wage rates according to collective agreements Increase in fixed monthly wages for daytime work 1.0-1.50% ISK 3,000 ISK 2,250 1.51-2.00% ISK 5,500 ISK 4,125 2.01-2.50% ISK 8,000 ISK 6,000 2.51-3.00% ISK 10,500 ISK 7,875 >3.0% ISK 13,000 ISK 9,750 The decision regarding the wage increases for 2019-2022, which shall be implemented in 2020-2023, should take into account the updated provisional estimates for the years that have been established as a basis for calculating the increase. Wage increases are payable on 1st May. Should there be occasion for a wage increase, the agreeing parties’ Salary and Conditions Committee determines the amount of the increase.
Sample 1
Economic growth bonus. In 2020-2023, a wage increase will be implemented on the basis of the per capita increase in gross domestic product. Calculation of the wage increase is based on provisional statistics from Statistics Iceland on the per capita gross domestic product index, which are published every March for the previous year. The wage increase is added to both the monthly wage rate stated in the collective agreement and to fixed monthly salaries for daytime work. The below table shows the wage increase amount and its basis. Gross domestic product per capita, yearly increase Increase in monthly wage rates according to collective agreements Increase in fixed monthly wages for daytime work
Sample 1

Related to Economic growth bonus

  • Annual Bonus In addition to Annual Base Salary, Executive shall be awarded, for each fiscal year ending during the Employment Period, an annual bonus (the “Annual Bonus”) in cash at least equal to Executive’s highest annual bonus for the last three full fiscal years prior to the Effective Date (annualized in the event that Executive was not employed by the Company for the whole of such fiscal year). Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless Executive shall elect to defer the receipt of such Annual Bonus.

  • Performance Bonus If Employee's employment is terminated by Employee with cause, or by Bank without cause, Employee shall be paid, in addition to the amounts payable under Sections 3.5 and 3.6 of the Agreement: (i) all non-forfeitable deferred compensation, if any; and (ii) unpaid performance bonus payments, if any, payable under Section 4.2 of the Agreement, which shall be declared earned and payable based upon performance up to, and shall be pro-rated as of, the date of termination. Employee shall not be entitled to such unpaid performance bonus payments if Employee's employment is terminated by Bank with cause, or by Employee without cause.

  • Bilingual Bonus A seven percent (7%) bilingual bonus will be paid to those employees who in the performance of their duties are required by the Employer to use the second official language on a regular and consistent basis.

  • PERFORMANCE PERIOD This Agreement shall be performed during the period which begins Oct 01 2020 and ends Sep 30 2022. All services under this Agreement must be rendered within this performance period, unless directly specified under a written change or extension provisioned under Article 14, which shall be fully executed by both parties to this Agreement.

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